In recent history, nowhere was this more evident than in the dark cloud that hung over the National Emergency Management Agency (NEMA) between 2018 and 2024
From the outset, the Mining Marshals were conceived as a specialised enforcement unit in line with the Renewed Hope agenda of President Bola Ahmed Tinubu, to tackle illegal mining networks that had become deeply entrenched across several states.
That was the dilemma facing the Central Bank of Nigeria at the height of the foreign exchange crisis: how to sustain difficult reforms in an environment defined by volatility, speculation, and public anxiety.
There is a growing tension in Nigeria’s political space—one that is no longer whispered in private conversations but voiced openly in markets, offices, and homes.
Few institutions in Nigeria carry as much influence over daily life as the Central Bank of Nigeria (CBN). Its decisions affect inflation, exchange rates, lending costs, savings, jobs, investment flows, and the broader confidence investors place in the country.
By any serious reading of Nigeria’s current economic condition, one reform under President Bola Ahmed Tinubu stands out as the clearest indicator of where the country is headed: the restructuring of the foreign exchange market led by the Central Bank of Nigeria.
